100% profit in 6 months...!
- Thread starter linkon7
- Start date
In the daily TF, we have a nice looking ZLR in CCI. This means in all probability we will break the 4800-4820 support today and rest the 4750 support by the ema-34 on the weekly chart.
We paused and then we are going to carry on with the down move. I always insisted that any upmove will be above the 4966 mark (38% retracement). We never seen panic short covering above the 4920 mark and that reinforced my belief.
I waited for the last 10 min and bot 4600 and 5000 strangle for a combined price of 80 points.
Weekly charts...analysis
1. weekly chart shows price had tested 34 ema (green line) last week -4750 and bounced back.
3. Trend line was broken 3 weeks back.
4. We are below the 20 ema (blue turned orange line) which is at 4946 now.
5. the (20,2.25) band had to expand marginally to accommodate the deviation
6. EMA-34 (green line) gave support at 4750 last week, Last time we crossed this ema, we were at 3200 levels. We never touched this line again, untill last week. EMA 34 is at 4755.
7. CCI-14 is at -106 and this normally is where prices start moving. We made 2 bars below zero and 6 bars are needed to establish a down trend. Another 3 week, we either pull back from here above zero and test BBtop at 5344 or break the resistance at -100 and go for -200 mark.
8. 4770 is the 38% retracement from 5303 to 3909. If we fail to bounce from here, then 50% is at 4606. A break of that will nullify the whole bull rally we had last year.
9. Volumes are bearish.
10. Budget will be factored in the coming 3 weeks. So we have news on the side and this will ensure volatility will remain high.
11. Dailly TF is showing strong support at 4820 levels and if thats broken then no known support levels exist. We never managed to scale 4966 (38% of the last weeks falls) so i have reasons to expect 4820 to break and test 4750.
12. We just seen capitulation on one day last week. A break below 4750 can bring panic. A break of 4966 can cause short covering to take us to 5030 levels (50%).
Next week i am expecting a 200 points directional move either side.
1. weekly chart shows price had tested 34 ema (green line) last week -4750 and bounced back.
3. Trend line was broken 3 weeks back.
4. We are below the 20 ema (blue turned orange line) which is at 4946 now.
5. the (20,2.25) band had to expand marginally to accommodate the deviation
6. EMA-34 (green line) gave support at 4750 last week, Last time we crossed this ema, we were at 3200 levels. We never touched this line again, untill last week. EMA 34 is at 4755.
7. CCI-14 is at -106 and this normally is where prices start moving. We made 2 bars below zero and 6 bars are needed to establish a down trend. Another 3 week, we either pull back from here above zero and test BBtop at 5344 or break the resistance at -100 and go for -200 mark.
8. 4770 is the 38% retracement from 5303 to 3909. If we fail to bounce from here, then 50% is at 4606. A break of that will nullify the whole bull rally we had last year.
9. Volumes are bearish.
10. Budget will be factored in the coming 3 weeks. So we have news on the side and this will ensure volatility will remain high.
11. Dailly TF is showing strong support at 4820 levels and if thats broken then no known support levels exist. We never managed to scale 4966 (38% of the last weeks falls) so i have reasons to expect 4820 to break and test 4750.
12. We just seen capitulation on one day last week. A break below 4750 can bring panic. A break of 4966 can cause short covering to take us to 5030 levels (50%).
Next week i am expecting a 200 points directional move either side.
@ open delta for put .33 / call .22, so selling 10 lots puts was right, to make it neutral :thumb:
as for the jobbing part, you are good at it so could have sold all to buy back the required qnty, I don't do it as I just end up messing the good trade :lol:
as for the jobbing part, you are good at it so could have sold all to buy back the required qnty, I don't do it as I just end up messing the good trade :lol:
EOD i want to hold just 10-15 lots...
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